Lam Research Corp (LRCX)

Gross profit margin

		Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020
Gross profit (ttm)	US$ in thousands	8,979,060	8,229,450	7,716,300	7,400,780	7,052,800	6,670,830	6,475,900	7,094,790	7,776,930	8,405,800	8,616,810	8,218,380	7,858,290	7,686,490	7,650,000	7,275,880	6,805,310	6,170,440	5,557,320	5,133,160
Revenue (ttm)	US$ in thousands	18,435,600	17,135,720	16,209,100	15,591,310	14,905,390	14,241,140	14,317,150	15,836,460	17,428,520	18,838,510	19,029,360	17,978,390	17,208,730	16,736,660	16,523,890	15,753,530	14,626,150	13,272,830	11,928,800	11,056,060
Gross profit margin		48.71%	48.03%	47.60%	47.47%	47.32%	46.84%	45.23%	44.80%	44.62%	44.62%	45.28%	45.71%	45.66%	45.93%	46.30%	46.19%	46.53%	46.49%	46.59%	46.43%

June 30, 2025 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $8,979,060K ÷ $18,435,600K
= 48.71%

The gross profit margin of Lam Research Corp has demonstrated a relatively stable trend over the reviewed period, generally fluctuating within a narrow range between approximately 44.62% and 47.60%. From September 30, 2020, through December 31, 2023, the margin exhibited slight variations, tending to hover around the mid-44% to mid-46% range. Notably, the margin decreased marginally from about 46.43% in September 2020 to around 44.62% in March 2023. This period reflects a gradual, modest contraction in gross profitability, potentially indicative of increased costs, competitive pressures, or shifts in product mix.

However, the trend reversed beginning in the first quarter of 2024, with the gross profit margin rising steadily and reaching 45.23% by the end of that year. The upward momentum persisted into 2025, with margins progressing to around 48.71% by June 2025. This recent increase suggests improvements in operational efficiency, a favorable change in product pricing strategies, or cost containment measures.

Overall, Lam Research’s gross profit margin has maintained relative stability over the analyzed period, with a discernible recent positive trajectory, indicating a possible strengthening of profitability fundamentals in the context of their core operations.